XML 20 R2.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Dec. 03, 2022
Nov. 27, 2021
Dec. 03, 2022
Nov. 27, 2021
Income Statement [Abstract]        
Net sales $ 1,066.9 $ 1,026.3 $ 2,145.7 $ 1,816.0
Cost of sales 699.3 673.3 1,406.0 1,185.3
Gross margin 367.6 353.0 739.7 630.7
Operating expenses:        
Selling, general and administrative 290.8 318.6 587.7 625.5
Restructuring expense 14.7 0.0 15.2 0.0
Design and research 23.4 28.2 47.3 51.6
Total operating expenses 328.9 346.8 650.2 677.1
Operating earnings (loss) 38.7 6.2 89.5 (46.4)
Interest expense 18.3 9.2 35.0 14.8
Interest and other investment income 0.7 0.3 1.1 0.5
Other (income) expense, net (0.5) (0.7) 0.3 11.8
Earnings (loss) before income taxes and equity income 21.6 (2.0) 55.3 (72.5)
Income tax expense (benefit) 4.3 (2.7) 10.6 (13.3)
Equity income from nonconsolidated affiliates, net of tax 0.2 (0.1) 0.2 0.0
Net earnings (loss) 17.5 0.6 44.9 (59.2)
Net earnings attributable to redeemable noncontrolling interests 1.5 2.3 3.1 3.9
Net earnings (loss) attributable to MillerKnoll, Inc. $ 16.0 $ (1.7) $ 41.8 $ (63.1)
Earnings (loss) per share — basic (in dollar per share) $ 0.21 $ (0.02) $ 0.55 $ (0.94)
Earnings (loss) per share — diluted (in dollar per share) $ 0.21 $ (0.02) $ 0.55 $ (0.94)
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments $ 44.2 $ (60.9) $ (28.3) $ (52.1)
Pension and post-retirement liability adjustments 0.4 1.8 0.8 4.1
Unrealized gain on interest rate swap agreement 7.2 4.0 21.5 3.0
Other comprehensive income (loss), net of tax 51.8 (55.1) (6.0) (45.0)
Comprehensive income (loss) 69.3 (54.5) 38.9 (104.2)
Comprehensive income (loss) attributable to redeemable noncontrolling interests 1.4 (0.2) 3.1 1.9
Comprehensive income (loss) attributable to MillerKnoll, Inc. $ 67.9 $ (54.3) $ 35.8 $ (106.1)